WorksheetsBanking Worksheet
Total questions: 27
Worksheet time: 14mins
Which of the following is a disadvantage of commercial banks?
Many well located branches
Banking fees usually the highest
Deposits insured by FDIC
Offer a full range of banking services
Which of the following is an advantage of commercial banks?
Only a few branches
ATM less convenient
Many well located branches
Not for profit
Which of the following is NOT a service offered by banks?
Direct Deposit
ATM Cards
Debit Cards
Car Insurance
Fill in the blank: Deposits in commercial banks are insured by the ______ for up to $250,000.
FDIC
FBI
IRS
SEC
Which of the following is a disadvantage of credit unions?
Fees and loan rates are lower than commercial banks
Only a few branches
Not for profit
Earnings are paid to member accounts
Which of the following is an advantage of credit unions?
Most are not insured by FDIC
ATM less convenient
Fees and loan rates are lower than commercial banks
Only a few branches
Match the following banking terms with their definitions:
The amount of money in your account
The amount of money in your account
Money you put into your account
Money you put into your account
Money you take from your account
Money you take from your account
When interest is earned on your money and previous interest earned.
When interest is earned on your money and previous interest earned.
Which of the following is a banking fee?
Overdraft Privileges
Safe Deposit Box
Check printing fees
Online Banking
Credit unions are nonprofit banks owned by members, who are often from a single organization or trade union.
True
False
Fill in the blank: A ______ is a bank card used like a credit card; money is debited from your account to pay for a sale.
Debit Card
Gift Card
Credit Card
Prepaid Card
Which of the following is NOT a type of account?
Checking Account
Savings Account
Certificate of Deposits (CDs)
Car Loan Account
What does FDIC stand for?
Federal Deposit Insurance Corporation
Federal Department of Investment Control
Financial Development and Investment Council
Federal Division of Insurance Companies
Fill in the blank: ______ allows you to check accounts, transfer money and pay bills over the internet.
Online Banking
Mobile Gaming
Online Shopping
Video Streaming
Which of the following is a service offered by banks?
Overdraft Privileges
Car Insurance
Mortgage Insurance
Health Insurance
ATM cards only allow you to access your accounts at bank machines.
True
False
Which of the following is NOT an advantage of commercial banks?
Offer a full range of banking services
Banking fees usually the highest
Deposits insured by FDIC
Many well located branches
Fill in the blank: A ______ account is typically used for everyday transactions and allows for frequent deposits and withdrawals.
Checking
Retirement
Mortgage
Investment
Which of the following is a feature of online banking?
Access to accounts 24/7
Requires visiting a branch
Only available during business hours
No electronic statements
Which of the following is NOT typically insured by the FDIC?
Certificates of Deposit (CDs)
Stocks and Bonds
Savings Accounts
Checking Accounts
What is one main difference between a commercial bank and a credit union?
Commercial banks do not offer checking accounts.
Credit unions are owned by their members, while commercial banks are owned by shareholders.
Commercial banks do not provide loans.
Credit unions are for-profit organizations.
Which of the following is a common reason people choose credit unions over commercial banks?
Not insured by any government agency
More branches nationwide
Lower fees and better customer service
Higher loan interest rates
Which of the following accounts is best suited for earning interest while keeping your money accessible?
Checking Account
Savings Account
Loan Account
Credit Card Account
Fill in the blank: The main purpose of the FDIC is to ______.
Issue credit cards
Regulate interest rates
Provide car loans
Insure bank deposits
Which of the following is NOT a benefit of online banking?
Receiving paper statements only
Transferring money between accounts
Ability to pay bills electronically
Access to account information anytime
Which of the following is NOT a feature of a savings account?
Safe place to store money
Earns interest
Insured by FDIC
Unlimited withdrawals
Which organization typically insures deposits at credit unions?
SEC
NCUA
FDIC
FBI
Fill in the blank: A ______ is a secure box at a bank where you can store valuable items and important documents.
Loan Account
Debit Card
Checking Account
Safe Deposit Box
